CESTAT Mumbai Reduces Customs Penalty/Fine from Rs. 19.5 Lakh to Rs. 16,582

S. Kantilal & Company Vs Commissioner of Customs (CESTAT Mumbai) In a case involving the mis-declaration of imported goods, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in Mumbai has ruled that a redemption fine cannot exceed the market value of the seized goods, less any duty payable. The ruling was made in the appeal of S. Kantilal & Company vs. Commissioner of Customs, which challenged the Principal Commissioner’s order imposing a redemption fine of ₹12,50,000 and penalties totaling ₹7,00,000 on the appellant firm and one of its partners. The case origin...